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i missed some of the comments that john boehner made. let me give you a quick summary of the highlights here, and let's call them highlights because finally kumbaya. hope it lasts. the senate majority leader harry reid suggested both of us, we're both going to have to give up what we want and call this the cornerstone of working something out. that sounds good. then nancy pelosi, the house minority leader, saying that this has to be about cuts. this has to be about revenue. this has to be about growth and that she is confident a solution is in sight. sounds good, too. and then the house minority leader or rather the minority leader mitch mcconnell also suggesting that this was a constructive meeting and that we are prepared to put revenue on the table. they just emerged from the meeting. looked like they were going right back in. maybe they were going to have lunch. i don't know. they sure deserve it if they're able to come to rhetoric like that any any case. take to you break for a moment and hopefully i can scramble up wolf blitzer. gi
i missed some of the comments that john boehner made. let me give you a quick summary of the highlights here, and let's call them highlights because finally kumbaya. hope it lasts. the senate majority leader harry reid suggested both of us, we're both going to have to give up what we want and call this the cornerstone of working something out. that sounds good. then nancy pelosi, the house minority leader, saying that this has to be about cuts. this has to be about revenue. this has to be about...
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it ended with what looked like a big handshake between the president and john boehner. james rosen has the report live from the white house. hey, james. >> reporter: house minority leader nancy pelosi says congress wants to show a message of confidence to the markets and she said they should aim to strike a deal on the fiscal cliff by christmas. the special lasted just over an hour. president obama said nothing explicit about reining in entitlement spending. instead the chief executive spoke about approaching the deficit in a balanced way and talked about long-term impediments to growth. >> i think we are all aware that we have some urgent business to do. we have got to make sure that taxes don't go up on middle class families and our economy remains strong that we are creating jobs and that's an agenda democrats and republicans and independents, people all across the country share. >> reporter: republican leaders gave no indication they are willing to entertain the idea that the president wants them to, namely the raising of tax rates on some particular categories of i
it ended with what looked like a big handshake between the president and john boehner. james rosen has the report live from the white house. hey, james. >> reporter: house minority leader nancy pelosi says congress wants to show a message of confidence to the markets and she said they should aim to strike a deal on the fiscal cliff by christmas. the special lasted just over an hour. president obama said nothing explicit about reining in entitlement spending. instead the chief executive...
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not the president who is the problem it's john boehner's lack of control of his own party. jon: you hear john boehner telling the president to show some leadership. >> i hope he goes to his caucus and is able to corral them. >> if you want economic growth you lower taxes. jon: julie and monica, thank you. >> thank you. jon: and we'll be right back. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. jon: a fox news alert now on a deadly train crash at a parade honoring our nation's heroes. the images from midland, texas, where police say a freight train slammed into a parade float carrying wounded veterans. four people were killed. more than a dozen others injured. casey seeing fell live in midland, texas, with more on this tragedy. casey? >> reporter: yeah, jon, union pacific railroad spo
not the president who is the problem it's john boehner's lack of control of his own party. jon: you hear john boehner telling the president to show some leadership. >> i hope he goes to his caucus and is able to corral them. >> if you want economic growth you lower taxes. jon: julie and monica, thank you. >> thank you. jon: and we'll be right back. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it...
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that could be a negotiating ploy by speaker boehner and the republicans to says look, we have been very reasonable, we put revenues on the table right from the start. if this falls apart it is all on the democrats. that is not a bad negotiating point. it is way too soon-to-be optimistic. ultimately they will avoid the cliff but we do not have good reason today to believe it will happen soon. >>trace: good to see you. chris anchors fox news sunday this week and will talk of the ongoing investigation into the attack in libya with vice chairman of the senate intelligence committee and chairman of the senate homeland committee joe lieberman and the future of the g.o.p. with louisiana governor jindal and wisconsin governor caught walker this weekend on "fox news sunday." now, one of the areas that super storm sandy devastated and police in new york say they are concerned that looting could become a big problem. rick got to fly with cops who are taking measure to keep folks from becoming victims for a second time. he joins us live with the details from queens. how big of a problem is this? ri
that could be a negotiating ploy by speaker boehner and the republicans to says look, we have been very reasonable, we put revenues on the table right from the start. if this falls apart it is all on the democrats. that is not a bad negotiating point. it is way too soon-to-be optimistic. ultimately they will avoid the cliff but we do not have good reason today to believe it will happen soon. >>trace: good to see you. chris anchors fox news sunday this week and will talk of the ongoing...
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we heard from speaker john boehner. he said that revenue is on the table. the issue here is that president obama has said he wants to increase tax rates on wealthy americans. the speaker and house republicans are still not on board with increasing tax rates, although perhaps closing some loopholes to raise some revenue, and even though there's a lot of kind of kumbaya going on here, suzanne, there's still a lot of tough work that needs to be done. they're still maybe punting on some of the important issues like tax reform and entitlement reform, but they'll be dealing with the fiscal cliff here in the near term. >> it's probably difficult to tell, but we see these pictures, and it's very common, right? you get about 30 seconds to see them all in a room together. they're patting each other on the back, smiling, and shaking hands, that kind of thick. do we have any sense of whether or not there were any different kind of tone or language when they were meeting behind closed doors that gives us a sense that maybe this is real? >> you know, i think, oh, to be a
we heard from speaker john boehner. he said that revenue is on the table. the issue here is that president obama has said he wants to increase tax rates on wealthy americans. the speaker and house republicans are still not on board with increasing tax rates, although perhaps closing some loopholes to raise some revenue, and even though there's a lot of kind of kumbaya going on here, suzanne, there's still a lot of tough work that needs to be done. they're still maybe punting on some of the...
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and they knew that boehner was going to be a dealmaker with the president. so even the hard liners may have read the election returns, and i think even the hard liners don't be responsible for a tax increase. >> not only boehner, even mcconnell. let me show you this, michelle. mcconnell and boehner had a different kind of sound, different tone today after the meeting. watch this. >> obviously the president won re-election. the republicans were basically unable to get any seats in the senate. more people voted for democrats in the house than republicans. why do you have any leverage whatsoever? >> there's a republican majority here in the house. the american people re-elected the republican majority. >> it's important to remember that in this case, the voters also re-elected a republican-controlled house last week. the fact is the government is organized no differently today than it was after the republican wave of 2010. >> now, listen to what they had to say today. >> tomorrow is speaker boehner's birthday. so for those of you who want -- >> i believe we're
and they knew that boehner was going to be a dealmaker with the president. so even the hard liners may have read the election returns, and i think even the hard liners don't be responsible for a tax increase. >> not only boehner, even mcconnell. let me show you this, michelle. mcconnell and boehner had a different kind of sound, different tone today after the meeting. watch this. >> obviously the president won re-election. the republicans were basically unable to get any seats in...
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as for speaker boehner i know they would personally like to make this time of deal. assuming the grand bargain happens, you can't get it done in a lame duck session, at least you move forward there, grand bargain, is this something that safbs the u.s. from this debt we've inflicted on ourselves for so long, where people stand up and notice it or would there still be the naysayers out there that say it still is not enough. what do you think? >> i think a true grand bargain would be a really great confidence signal to markets. now i don't think it's the solution for our short term growth problems because right now borrowing is cheap and we don't have a debt problem dragging on our economy right now but if we're looking at freeing up investment, freeing up hiring over the medium and long terms, absolutely the markets would love that. >> i think, also, the biggest negative domestically generated is the perpetual fights of brinksmanship, government shutdown, debt ceiling. a grand bargain that if it did nothing else put off those types of fights for the foreseeable future
as for speaker boehner i know they would personally like to make this time of deal. assuming the grand bargain happens, you can't get it done in a lame duck session, at least you move forward there, grand bargain, is this something that safbs the u.s. from this debt we've inflicted on ourselves for so long, where people stand up and notice it or would there still be the naysayers out there that say it still is not enough. what do you think? >> i think a true grand bargain would be a...
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john boehner is pulled by two groups. one he does not want to be obstructionist not to allow tax cuts for lower group to go through and doesn't want tax cuts to go through. he is pulled on that side and by his own party. what i hope is that the vast majority of the republicans hold true and if some of the republicans peel off, i would, that would be fine. if they pushed through obama's bill, but i do not want to see them punished. but the republicans need to have this position for 2014 and the rest of 2013 when the economy goes in the garbage dump. republicans are right. bill: two more quick questions on this. >> sure. bill: when these congressional leaders speak, what sort of code words should we be listening for today? >> well i don't know what they would say to each other but on the outside, using the word rates left revenues and that type of stuff are code words especially coming from the president. if he talks about raising revenues and does not insist on it being rates there is a good compromise possible. if he forc
john boehner is pulled by two groups. one he does not want to be obstructionist not to allow tax cuts for lower group to go through and doesn't want tax cuts to go through. he is pulled on that side and by his own party. what i hope is that the vast majority of the republicans hold true and if some of the republicans peel off, i would, that would be fine. if they pushed through obama's bill, but i do not want to see them punished. but the republicans need to have this position for 2014 and the...
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[applause] >> your advice to the president and speaker boehner? >> compromise and do the right thing. the solution is out there. let's get with it. now is the magic moment. it's our responsibility. >> with that i want to thank both you. we're out of time here. in fact, i'm going to rush over to a bloomberg television camera to take a look at more of your time. the conversation will continue here at this summer. thank you all of you for joining us. thank you to the two of you. >> thank you. >> again, appreciate your work as well. we will be right back in just a moment as we continue here at this fiscal summit. [applause] [inaudible conversations] >> [inaudible conversations] >> [inaudible conversations] >> ladies and gentlemen, please welcome the president of the peter g. peterson foundation, michael peterson. [applause] >> while politics is often centerstage, policy and substance will form the basis of many fiscal agreement. we at the peterson foundation believe that the mortgages and the more solutions brought to the table, the better. out initia
[applause] >> your advice to the president and speaker boehner? >> compromise and do the right thing. the solution is out there. let's get with it. now is the magic moment. it's our responsibility. >> with that i want to thank both you. we're out of time here. in fact, i'm going to rush over to a bloomberg television camera to take a look at more of your time. the conversation will continue here at this summer. thank you all of you for joining us. thank you to the two of you....
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boehner. wasn't he tried to get everybody paid off. >> stephanie: from the tobacco companies. >> caller: from the cigarette companies, i mean for years. i've watched politics for years and i mean it was always like a joke two and three years ago always drunk all the time. >> well, yeah. >> caller: you know, a political joke. i've heard people say that. i just want to make a comment. i was watching david schuster the last show, and i can't--i just want to make a comment because i've watched him for years, too. my friend have sisters in college, and i guess he's really popular in dorms. >> stephanie: he's dreamy. >> caller: in dorm rooms. people have pictures of him in their dorm rooms. >> stephanie: really? i can't wait to tease him about that. >> caller: politics, i'm just a housewife, and i hear stories about college but we're not there. >> stephanie: he's like a political geek liker beat. >> like shawn cassidy of the political world. >> caller: they were talking about religion on the last sh
boehner. wasn't he tried to get everybody paid off. >> stephanie: from the tobacco companies. >> caller: from the cigarette companies, i mean for years. i've watched politics for years and i mean it was always like a joke two and three years ago always drunk all the time. >> well, yeah. >> caller: you know, a political joke. i've heard people say that. i just want to make a comment. i was watching david schuster the last show, and i can't--i just want to make a comment...
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john boehner, mitch mcconnell saying they want the bush tax cuts for everyone. joe, will they have to bend on that? isn't that really the issue? will they bend on the republican side? >> the republicans are going to have to bend. we have to get this done. we've only got 46 days before the -- before we would fall off this fiscal cliff and to fall off the cliff would mean 3.9% hit for gdp next year. we can't afford that because that would potentially throw us into another recession. we want to avoid that at all costs. the big issue i think for most people would be taxes. most people -- and governor rendell said, well, it's not just a matter of tax increases on the wealthiest americans but it's a host of spending challenges that we face across the board that would impact millions of people and certainly impact us in a huge way. i think republicans have to bend. republicans are going to be looking at of course cuts in spending and cuts in entitlements as well as the possibility of new revenue and i think they're very open to this. i think some republicans will push
john boehner, mitch mcconnell saying they want the bush tax cuts for everyone. joe, will they have to bend on that? isn't that really the issue? will they bend on the republican side? >> the republicans are going to have to bend. we have to get this done. we've only got 46 days before the -- before we would fall off this fiscal cliff and to fall off the cliff would mean 3.9% hit for gdp next year. we can't afford that because that would potentially throw us into another recession. we want...
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the president gave boehner a bottle of italian wine as a birthday gift. at least they're talking. >> yes. >> for a birthday, you can talk. >> nice sunshine out there today. >> yeah, we needed to see that sunshine. i think we're going to see a similar day tomorrow. if you liked today, you're going to see another one tomorrow. that comes on an all-important weekend. look outside right now. what you're seeing out there is a pretty nice night. yes, it's on the cool side. you'll need the jacket as you step outside, but other than that, not bad at all. you can deal with the chill. it's going to be a nice evening. 47 degrees the current temperature at the airport. winds out of the north about 7 miles per hour. that breeze, we'll call it a breeze instead of a wind, but that breeze will make things feel a little bit cooler. 37 down towards culpepper. 39 in gaithersburg. temperatures are going to fall fairly quickly now as the sun has gone down. expect to see chilly numbers when you wake up tomorrow morning. no rain on the radar. not rain down to the south, just gr
the president gave boehner a bottle of italian wine as a birthday gift. at least they're talking. >> yes. >> for a birthday, you can talk. >> nice sunshine out there today. >> yeah, we needed to see that sunshine. i think we're going to see a similar day tomorrow. if you liked today, you're going to see another one tomorrow. that comes on an all-important weekend. look outside right now. what you're seeing out there is a pretty nice night. yes, it's on the cool side....
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. >> tomorrow is speaker boehner's birthday. we are not going to embarrass him with a cake because we did know how many candles were needed. >> right. [laughter] >> we do want to wish him a happy birthday. thank you. >> after the meeting, leaders encouraged that they will agreement. democrats and republicans called productive. >> we are hearing from the of the little girl whose production prompted amber alert overnight. the jobless around this morning her parents fled their homes in southern virginia. -- the child was found this after her parents fled virginia. in southern >> early this morning, a ups spotted the vehicle used in the abduction. driver called 911 and .ollowed the car inside the car was the little girl's father. the girl was down a short time later in maryland. >> i am ok. >> there she is, safe and sound family in prince george's county. had no idea police say s -- the child had no idea police say her parents took members inher family staying where she was night. the parents left last after the court told them o th
. >> tomorrow is speaker boehner's birthday. we are not going to embarrass him with a cake because we did know how many candles were needed. >> right. [laughter] >> we do want to wish him a happy birthday. thank you. >> after the meeting, leaders encouraged that they will agreement. democrats and republicans called productive. >> we are hearing from the of the little girl whose production prompted amber alert overnight. the jobless around this morning her parents...
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seen incredible interest and openness to putting in place a deal, both from president obama and leader boehner, and a number of members of congress. >> an aide to senator majority leader harry reid told fox news, the democrats are open to various tax loopholes only if the republicans agree first to raise taxes on those making $250,000 or higher. sound familiar, chris. >> does a bit. thanks from the white house. president obama won reelection on a promise to raise taxes on high earners as a plan to raise our massive debt. republicans say they agree with the goal, but want to do it a different way than the president. jim angle tonight on their alternative. >> president obama wants to take money from wealthy taxpayers, republicans say they're willing to raise revenues, but not tax rates. and that leaves ample middle ground that could satisfy both, putting a cap on the amount of deductions any one person could claim, such as $50,000. >> that means the maximum number of deductions you can take is $50,000, you can take it for anything you want, but you can't take more than 50,000. >> the tax policy
seen incredible interest and openness to putting in place a deal, both from president obama and leader boehner, and a number of members of congress. >> an aide to senator majority leader harry reid told fox news, the democrats are open to various tax loopholes only if the republicans agree first to raise taxes on those making $250,000 or higher. sound familiar, chris. >> does a bit. thanks from the white house. president obama won reelection on a promise to raise taxes on high...
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you can imagine going through the negotiations and at the end of december boehner and mcconnell saying let's keep the tack cuts in place while we continue to negotiate. the president has to be firm. >> i completely agree with everything you just said. boehner after the meeting hinted he would be wiling to kick the can down the road and have the temporary solution. >> yeah. >> what would that mean for the markets? what would that mean for his caucus. do you think that's the most likely sceneario? >> the most positive is that some how they reach you a template. we are not talking about a full-blown dooley that provides -- it means a new budget resolution ordering the committees to come up with the right revenue and guidelines and the changes in spending before january 1. the second most likely and most positive, they can't quite get there but delay for a couple of weeks and thatted -- that will be fine for the markets. if they can't reach it and the president says i'm not going to extend this for three or six months we will go over the cliff and i'll propose my tax cut plan after all the
you can imagine going through the negotiations and at the end of december boehner and mcconnell saying let's keep the tack cuts in place while we continue to negotiate. the president has to be firm. >> i completely agree with everything you just said. boehner after the meeting hinted he would be wiling to kick the can down the road and have the temporary solution. >> yeah. >> what would that mean for the markets? what would that mean for his caucus. do you think that's the...
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boehner appreciates that, dana. just looking at their body language sitting around the table, they're all smiling awkwardly and trying to get along, so hopefully as the morning progresses, you know, the talks will be cordial and arrive at some sort of conclusion. do you have any hopes an actual plan will be developed from this meeting? >> the bright lines over which neither side will cross will likely be established. the players have been very careful not to draw the bright lines in public, for example, the president now publicly at least has made clear that, yes, he promised during the campaign to raise those rates for those families making $250,000 or more but he is also in the next sentence said i am open if anybody has any other ideas to figuring out how to raise other tax revenue in order to achieve his goal which is deficit reduction, about a trillion dollars in deficit reduction. those kinds of lines and paramete parameters. >> dana bash, thank you so much. i know you're busy today. we appreciate you giving y
boehner appreciates that, dana. just looking at their body language sitting around the table, they're all smiling awkwardly and trying to get along, so hopefully as the morning progresses, you know, the talks will be cordial and arrive at some sort of conclusion. do you have any hopes an actual plan will be developed from this meeting? >> the bright lines over which neither side will cross will likely be established. the players have been very careful not to draw the bright lines in...
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here's speaker boehner on the chances of cutting a deal. here it is. >> if you've looked closely at what the president had to say and look closely at what i have had to say, you know, there are no barriers here to sitting down and beginning to work through this process. >> ruth conniff, i really don't know what that means. do you? >> it makes me nervous because i don't really want to see us moving that close to boehner. and, you know, it's interesting. i talked to economist dean baker, he's the economist in america who showed that the housing bubble was a threat back in 2002. before it actually popped in 2005. he has a lot of credibility. he said the best deal might be no deal. if obama can go into these negotiations and say this fiscal cliff is not going to impact people on january 2nd, it's recessionary, but he could get the two main things he campaigned on, even if there's no deal, which is an instant hike on the very rich and no touching of social security, medicare and medicaid. then the republicans just as e.j. points out would have t
here's speaker boehner on the chances of cutting a deal. here it is. >> if you've looked closely at what the president had to say and look closely at what i have had to say, you know, there are no barriers here to sitting down and beginning to work through this process. >> ruth conniff, i really don't know what that means. do you? >> it makes me nervous because i don't really want to see us moving that close to boehner. and, you know, it's interesting. i talked to economist...
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that doesn't seem like it'll be a go for john boehner, does it? >> no, at least at this point it doesn't. after all, the republicans want those tax cuts to continue. that's really the nub of it. how far they'll go, it's a very important meeting. this is really it. this is where the president weighs in. it's mano a mano. the person who's taking a harder stance is mitch mcconnell. let's listen to what he says from the senate side. >> we don't happen to think the government needs more revenue. the government spends too much as it is. if democrats are willing to reduce spending and strengthen entitlement programs, which we all know are on an unsustainable path that threatens our own long-term viability and the economic well-being of our children and grandchildren, then we'll be there. what we won't do is raise tax rates. >> okay. so read the fine print. raise tax rates. now, there's a difference between raising tax rates and raising revenue, making people pay more by doing things which the republicans have suggested like, you know, capping loopholes o
that doesn't seem like it'll be a go for john boehner, does it? >> no, at least at this point it doesn't. after all, the republicans want those tax cuts to continue. that's really the nub of it. how far they'll go, it's a very important meeting. this is really it. this is where the president weighs in. it's mano a mano. the person who's taking a harder stance is mitch mcconnell. let's listen to what he says from the senate side. >> we don't happen to think the government needs more...
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i just think about the prospect of john boehner and nancy pelosi working together. i think about you sitting down with vice president biden and president obama and john boehner and talking about what's possible. what do you expect about the republican world view and goals to change because of this election? >> well, the president was very clear in the campaign. on where he stood. there was no ambiguity about where he was on many of the issues. and so his election, i think, strengthens our hand at the table. but the public still has to continue to be engaged. public sentiment is everything. and in the past, for example, the republicans in the house were the odd people out on the -- on some of the tax bill. one of the tax -- you know, deduction. and then also on the transportation bill. and so when the president went public on those, then they finally came around. but they're not going to come around just by persuasion sitting across the table, i do not believe. >> they are not going to come around just by persuasion in washington. nancy pelosi essentially calling for
i just think about the prospect of john boehner and nancy pelosi working together. i think about you sitting down with vice president biden and president obama and john boehner and talking about what's possible. what do you expect about the republican world view and goals to change because of this election? >> well, the president was very clear in the campaign. on where he stood. there was no ambiguity about where he was on many of the issues. and so his election, i think, strengthens our...
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>> well, i think speaker boehner has struck the right tone. clearly both from election -- the day after the election and including today we had the opportunity to meet with leader pelosi afterwards who was very encouraging about the meeting that took place in the white house, and i think boehner has always been, who is an institutionalist, has always cared deeply about this and would have struck the right deal. it's always been that element within the republican conference that has kept him from getting there, but i see a different kind of resolve and obviously, martin, for the interests of the country we hope that they don't lead us off this cliff that, as you point out, is artificially created by them, and so there's -- i think there's great hope that we can get this accomplished and set up the framework for the next session. >> okay. well, i want to play something for you of that encapsulates the outlook of some republicans. listen to this. >> i mean, it's a proven political strategy, which is give a bunch of money from the government to a
>> well, i think speaker boehner has struck the right tone. clearly both from election -- the day after the election and including today we had the opportunity to meet with leader pelosi afterwards who was very encouraging about the meeting that took place in the white house, and i think boehner has always been, who is an institutionalist, has always cared deeply about this and would have struck the right deal. it's always been that element within the republican conference that has kept...
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he wished speaker boehner an early happy birthday. listen to what he said. >> wait, excuse me, there is actually one other point that i wanted to make, and that is that my understanding is tomorrow is speaker boehner's birthday. so for those of you who want to wish him a happy birthday, we will -- we're not going to embarrass him with a cake because we didn't know how many candles were needed, but -- >> yeah, right. >> but we do want to wish him a happy birthday. >> thank you. thank you. >> so he is right, the speaker is turning 63 tomorrow, so happy birthday. >> did he get emotional? >> he didn't get emotional, but i believe you can see mike so summers, he gave him a gift from the president, which is a bottle of wine. he actually tweeted a picture there of the bottle of wine. >> thank you. nice moment. >>> new york city's silence is going viral in the days and weeks since sandy. the popular signer is telling cnn what she thinks of all the attention. i'm getting married. planning a life. there are risks, sure. but, there's no reward w
he wished speaker boehner an early happy birthday. listen to what he said. >> wait, excuse me, there is actually one other point that i wanted to make, and that is that my understanding is tomorrow is speaker boehner's birthday. so for those of you who want to wish him a happy birthday, we will -- we're not going to embarrass him with a cake because we didn't know how many candles were needed, but -- >> yeah, right. >> but we do want to wish him a happy birthday. >>...
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john boehner said he outlined a framework that is consistent with the president's call for a balanced approach of both higher revenue and spending cuts. >> our challenge is to make sure that you know we are able to cooperate together, work together, find some common ground, make some tough compromises, build some consensus to do the people's business. >> while we are going to continue to have revenue on the table it is incumbent for my colleagues to show the american people we are serious about cutting spending and solving our fiscal dilemma, i believe we can do this and avert the fiscal cliff that is right in front of us today. >> the president began the meeting on a chordal note, wishing speaker boehner, shaking his hand, a happy birthday. >>> an oil rig exploded in the gulf of mexico 25 southeast of grand isle, louisiana. two crew members are missing and four injured. the fire that followed the explosion has been extinguished. the rigbylongs to black elk energy, an independent oil and gas company headquartered in houston. >>> a texas rail crossing where a train hit a parade float y
john boehner said he outlined a framework that is consistent with the president's call for a balanced approach of both higher revenue and spending cuts. >> our challenge is to make sure that you know we are able to cooperate together, work together, find some common ground, make some tough compromises, build some consensus to do the people's business. >> while we are going to continue to have revenue on the table it is incumbent for my colleagues to show the american people we are...
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that's when speaker boehner spoke. listen to this. >> i believe that we can do this and avert the fiscal cliff that's right in front of us today. >> is this really what led to today's midday turn around, or was it something else? let's talk about that. quincy crosby joins us. mark spellman and kevin carone. quincy, is it that simple? they came out, they used the word constructive, framework, corner stone, all those positive words, and the market took off. >> absolutely. i was watching the body language when they finished up. they walked together. they didn't separate. the market kept making gains. it was that immediate. >> mark, do you agree? >> yeah, i think it was important. we've been looking for good news. the fact that everyone's heels aren't dug in quite as badly, it's good news and what otherwise has been a bad news market. >> kevin, i want to ask you, though, even if we get a deal, okay, great. tick, check. like the elections, check. we've still got a lot of longer-term fundamental problems. i don't know. just
that's when speaker boehner spoke. listen to this. >> i believe that we can do this and avert the fiscal cliff that's right in front of us today. >> is this really what led to today's midday turn around, or was it something else? let's talk about that. quincy crosby joins us. mark spellman and kevin carone. quincy, is it that simple? they came out, they used the word constructive, framework, corner stone, all those positive words, and the market took off. >> absolutely. i was...
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i did pick up it was john boehner next to the president and the president went out of his way to say we want a balanced approach. that means tax the rich. >> taxes go up, increasing revenue, which we already have no word on entitlement spending. no time like the present. the dollar now down 26. know in part on the from that. >> not raising taxes, and the second element of this which has not been part of the public conversation is cutting spending. we don't have a revenue problem, have a spending problem, no issue with cutting spending. stuart: i said taxes on the rich will go up. are you going to disagree with me? >> depends on what you mean of taxes going up. i don't think republicans are going for that, don't. stuart: whether they are forced into it? >> than we are going over the cliff. >> don't think republicans have sacrificed that sacred land. stuart: who turned full circle? >> i do, i think the president has drawn a line in the sand. i have two or three chess pieces on the board, i win. these are photo ops. stuart: that means nothing. utterly meaningless. you say we are going o
i did pick up it was john boehner next to the president and the president went out of his way to say we want a balanced approach. that means tax the rich. >> taxes go up, increasing revenue, which we already have no word on entitlement spending. no time like the present. the dollar now down 26. know in part on the from that. >> not raising taxes, and the second element of this which has not been part of the public conversation is cutting spending. we don't have a revenue problem,...
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boehner has said similar things. the administration seems to be open to perhaps tax rates not going up quite as much as they initially proposed but they're still absolutely insistent on those tax rate increases of some size. there's a lot that has to come together in a short period of time in order to get a deal. it's not impossible. but i think the risk of at least temporarily going over this cliff is significant. >> so, zanny minton-beddoughs says it's not a cliff. it's like a blue slope on a ski slope. christine says it's a cliff like a black diamond. >> big black diamond. >> other people have said it's a gentle slope like a sunny day slope down the hill. what is it, do you think? >> the problem is we're going to start going downhill and not know exactly whether it's a blue slope or a double diamond. you don't know exactly what's ahead of you, because we don't know how quickly a deal will come together. that's the problem. if on january 2nd the leadership of the congress and the president say, don't worry. we've g
boehner has said similar things. the administration seems to be open to perhaps tax rates not going up quite as much as they initially proposed but they're still absolutely insistent on those tax rate increases of some size. there's a lot that has to come together in a short period of time in order to get a deal. it's not impossible. but i think the risk of at least temporarily going over this cliff is significant. >> so, zanny minton-beddoughs says it's not a cliff. it's like a blue...